Pan-European investor Geneba has acquired a majority stake in an automotive logistics facility from Gutperle family office for €20.5 mln.
The deal, which sees Geneba acquire 76.5% of the shares in the company owning the facility, includes two industrial warehouses leased on a long-term basis to a German car manufacturer.
The property, located in Landau, has a gross lettable area of 38,870 m2. Geneba said it intended to hold the asset long term and to actively assist the tenant in pursuing its business on-site needs.
Amsterdam-based Geneba's investment strategy focuses on corporate real estate assets, in particular logistics and light industrial buildings in Germany and the Netherlands. It is an indirect subsidiary of Singapore-incorporated Frasers Centrepoint.
